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Thursday, February 6, 2014

News Corp grip on costs helps beat Street, (NASDAQ: NWSA)

News Corp, publisher of the Wall Street Journal, reported a 4 percent decline in quarterly revenue on weaker advertising at its newspapers, but cost cuts helped push profit well ahead of analysts forecasts.Shares in News Corp rose 4 percent in after-hours trading after closing at $16.02 on Thursday.This is the second quarter that News Corp, whose chairman is Rupert Murdoch, has reported results as a stand-alone company after separating from its entertainment and TV properties now known as 21st Century Fox.While News Corp beat expectations, it faces challenges besetting other newspaper publishers as advertisers pull back spending and readers favor smartphones over print.

News Corporation is a diversified media and information services company. Shares of NWSA traded higher by 2.63% or $0.41/share to $16.02. In the past year, the shares have traded as low as $14.39 and as high as $18.17. On average, 3876680 shares of NWSA exchange hands on a given day and today's volume is recorded at 4985090.